Altai Resources sells interest in Blackcliff property

Executive Summary

• Altai Resources Inc. sold its 50 % working interest in the Blackcliff gold property (Malartic, Quebec) to Globex Mining Enterprises Inc. for cash of $142,000.
• The transaction price represents a $18,289 premium (~15 %) over the property's carrying value reported in Altai’s interim consolidated financial statements for the period ended June 30 2025.

Key Details

• Asset sold: 50 % working interest in the Blackcliff gold property (six claims) located in Malartic township, Quebec.
• Buyer: Globex Mining Enterprises Inc., owner of the remaining 50 % working interest and operator of the property.
• Consideration: Cash payment of $142,000 transferred via interbank cash transfer.
• Premium: Sale price exceeds carrying value by $18,289, approximately a 15 % premium to the book value recorded in Altai’s June 30 2025 interim consolidated financial statements.
• Impact on balance sheet: Removal of the gold property asset and recognition of cash proceeds; net effect expected to be modest given the small transaction size relative to overall assets.

Notable Quotes

(No quotes were provided in the release.)